Get The Best Deal While Moving To A Better Place
With over 10 years of experience serving buyers and sellers in Burbank and the Greater Los Angeles area, Fred Herrman Real Estate remains committed to representing clients and securing the best purchases when it comes to your Southern California. Our team works tirelessly to find your dream home--no matter the real estate market conditions.
If you’re moving or relocating to Burbank, Fred Herrman and his real estate team are here to make the transition seamless, worthwhile, and fun! To get started on buying or selling your Burbank house, don’t hesitate to contact us for a free consultation at 310.343.3219.
For your convenience, the Fred Herrman Real Estate team has compiled real estate market trends, forecast, and analysis, so you can research local housing conditions for making the Big Move. Let’s get started!
Burbank Real Estate Market Overview
Near Glendale, North Hollywood, Toluca Lake, and Griffith Park, Burbank is a beautiful suburban city in Los Angeles County bordered by the Verdugo Mountains. Because of its proximity to L.A. and prominence within the motion picture, television, and animation industries, Burbank has become a highly desirable place to live in Southern California with a highly competitive real estate market. Here are some current statistics to give you a quick snapshot of the ever-changing local housing market:
- Houses for sale typically receive at least 2 offers.
- On average, homes sale 1% above the listed price.
- Houses go pending in an average of 42 days.
- Hot houses can sell up to 3% above the listed price and go pending in 19 days.
- From August 2019 to September 2019, the median list price of Burbank homes decreased by 1%.
2019 Burbank Housing Statistics + Forecast
Even though Burbank properties remain in high-demand throughout Los Angeles County, the regional real estate market in 2019 is neutral towards buyers and sellers, and real estate experts project that growth will be slowing down compared to recent years. Here is some collected data that gives an accurate picture of current trends and future forecast when it comes to Burbank real estate.
- 2019 Median Home Value $829,300
- 2019 Home Value Growth 3.2%
- 2020 Home Value Growth 0.5%
- Median List Price Per Square Foot $576
- Median Home Size 1,507 sq. ft.
- 2019 Median List Price $849,000
- 2019 Median Selling Price $831,900
- 2019 Average Days on the Market 65
- 2019 Negative Equity Homes 3.5%
- 2019 Delinquent Mortgages 0.3%
- Listings with Price Cuts 10%
- Active Inventory 93 Houses
- Active/Pending Homes 198
- New Homes 23
- Open Houses3
Burbank Rental Market Analysis
If you’re a property manager looking to grow your investment portfolio in the Burbank area, it’s important for your rates to remain competitive within the current market conditions. Here are some metrics to guide you while pricing your properties for potential Burbank tenants.
- 2019 Median Rental Rate $3,195
- Breakeven Horizon4.3 years
- Rent List Price Per Sq. Ft. $2.53
- Owner Occupied 30.7%
- Renter Occupied : 69.3%
- $2,000 or More 11%
- $1,500-$1,999 20.3%
- $1,000-$1,499 51.5%
- $600-$999 13.6%
- $600 or Less 3.6%
Burbank Neighbors + Home Values
At Fred Herrman Real Estate, our team specializes in representing buyers and sellers all over Los Angeles County to Bakersfield, CA. If you’re looking to expand the horizons and parameters of your home search, here are some of the average home values for cities neighboring Burbank, CA.
- Beverly Hills $3,041,900
- South Pasadena $1,195,300
- Glendale $772,000
- Pasadena $752,200
- West Hollywood $731,900
- Los Angeles $629,900
- San Fernando $435,700
Moving To Burbank, CA
No matter your reasons for relocating or moving to Burbank, Fred Herrman Real Estate is committed to making the transition as easy as possible. With decades of working and living in the Burbank area, I am an expert on everything you need to know about the city, including local economy, the best eateries in town, shopping, attractions, and more. Just a stone’s throw away from Los Angeles, Burbank has plenty of famous landmarks and sites of its own, included below:
Famous Landmarks + Locations:
- Burbank Public Library
- Burbank City Hall
- De Pell Municipal Golf Course
- Providence Saint Joseph Medical Center
- Southern California Genealogical Society Library
- Gordon R. Howard Museum
- Martial Arts History Museum
- New York Film Academy
- Valhalla Memorial Park
- Nicktoons Studios
- The Burbank Studios
- Walt Disney Studios
- Cartoon Network Studios
- Columbia Ranch
- Warner Bros. Studios
- Providencia Ranch
- Nestor Ranch
- Universal City
- Lasky Ranch
- Hasbro Studios
- Hudkins Stables of Hollywood
Are you curious about your potential neighbors and communities before making the official move to Burbank? We’ve researched the following demographics to give you an accurate picture of Burbank’s population, so you can make an informed decision about how you’ll fit in!
- Master’s Degree or Higher12.5%
- Bachelor’s or Associate Degrees 34.7%
- High School Graduate 43.8%
- High School or Less9%
- 9 or Younger 12%
- 10 to 177.8%
- 18 to 24 7.9%
- 25 to 39 26.4%
- 40 to 6431.6%
- 65 or Older 14.3%
- Education/Health 16.9%
- Finance/Real Estate7.6%
- Business Professional13.5%
- Public Administration3.5%
- Walk/Bike 3.8%
- Work from Home 6%
- Private Vehicle87%
- Public Transportation 1.9%
- Taxi 0.1%
- Other 1.2%
- Armed Forces 0%
- Civilian 59.8%
- Not in Labor Force32.2%
- $150,000 or More13.5%
- $30,000 or Less 26%
- 1 person 26.5%
- 2-3 People 48.5%
- 4-5 People 23.1%
- 6+ People 2%
Total Number of Rooms
- 1 4.1%
- 2-3 24.4%
- 4-6 55.2%
- 7-8 12.8%
- 9 or More 3.6%
Number of Bedrooms
- 1 19%
- 2 Bedrooms: 47.3
- 3 23%
- 4 5.2%
- 5 or More1.2%
- Built before 1950 25.8%
- Built 1950-1989 57.1%
- Built after 1990 17.2%
The Best Schools In Burbank
As a whole, the City of Burbank takes education seriously. With impressive public and private schools abound, you can rest assured that your K-12 children will receive a quality education upon moving to Burbank, CA.
For more information on district lines and departments, visit: https://www.burbankusd.org/
In the meantime, here are a list of some of Burbank’s beloved, top-rated educational facilities!
- Burbank High School
- Thomas Jefferson Elementary School
- Joaquin Miller Elementary School
- Ralph Emerson Elementary School
- St. Robert Bellarmine Elementary School
- Bellarmine-Jefferson High School
- Luther Burbank Middle School
- William McKinley Elementary School
- Burbank Community Day School
- Bret Harte Elementary School
- Walt Disney Elementary School
- Monterey High School
- John Muir Middle School
- Burbank Adult School
More often than not, that feeling of home stretched beyond the bounds of your house to your street and entire neighborhood area. Ask us about the following Burbank neighborhoods when searching for your dream abode.
- Hillside District
- The Rancho
- Magnolia Park
- Chandler Bikeway
- Northwest District
- Media District
- Toluca Woods
- Downtown Burbank
- Toluca Lake
- Starlight Hills
Top Employers In Burbank, CA
With such a rich history in the entertainment industry, there are a bounty of employment opportunities in the Burbank area. Because Burbank is so close to Los Angeles, you are never far from a quality position within your sector, so you can continue building your financial foundation and grow your career. Here is a list of the top employers within the City of Burbank!
- Warner Bros.
- The Walt Disney Company
- Providence Saint Joseph Medical Center
- Hollywood Burbank Airport
- Burbank Unified School District
- City of Burbank
- Deluxe Entertainment Services Group
- American Broadcasting Company
- Entertainment Partners
- Nickelodeon Animation Studio
Fun Facts About Fred Herrman
Are you curious about the background of your Burbank real estate professional? Meet the man behind the house, Fred Herrman:
- I am a born and raised Los Angeles Native.
- I am originally from Studio City and the Hollywood Hills.
- I’ve also lived in West Los Angeles, Manhattan Beach, Santa Monica, Venice, and Burbank.
- I have experience traveling to and from Bakersfield since 1996.
- I attended USC, majoring in Psychology.
- I worked in production for Walt Disney Feature Animation for 15 years.
- I’ve also worked for DreamWorks Animation!
- I started working in real estate in 2006.
- I’ve represented buyers and sellers with First Class Real Estate in Burbank since 2010.
The Best Real Estate Investments From Burbank To Bakersfield--And Beyond!
Do you have any additional questions or concerns about buying and selling property in the Burbank real estate market? You can contact us with any and all inquiries by calling Fred Herrman Real Estate at 310.343.3219. Find your Southern California dream home at a dream price today!